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QR Challenge: Economics Review

Created using the ClassTools QR Treasure Hunt Generator

Teacher Notes

A. Prior to the lesson:

1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.

2. If their phone camera doesn't automatically detect and decode QR codes, ask students to

3. Print out the QR codes.

4. Cut them out and place them around your class / school.


B. The lesson:

1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.

2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.

3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!


C. TIPS / OTHER IDEAS

4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.


Questions / Answers (teacher reference)

Question

Answer

1. The inability to satisfy all of our wants at the same time because everything is limited. This requires us to make choices.Scarcity
2. factors of production that are used to make goods and services. Include natural, human, capital, and entrepreneurship (new ideas)Resources
3. selecting an item or action from a set of possible alternativesChoice
4. what we give up when we make a choice.opportunity cost
5. Buyers determine through their purchases what will be produced. A producer will not make something that no consumers are willing to buy.Consumer Sovereignty
6. Economy with private and public sectormixed economy
7. Economy with only public sector, no competitioncommand economy
8. Economy with only private sector, no governmentfree market
9. One owner takes all the risks keeps all profitproprietorship
10. Two or more owners share risk and profitpartnership
11. Owners of a corporation are known as?stockholders
12. What do banks do with your money?make loans
13. How do banks make money?charge interest on loans
14. Why does the US participate in Global Trade?To get goods and services that they cannot produce themselves To buy goods and services at a lower opportunity cost, To sell goods and services to other countries, To create jobs
15. How does the government prevent monopolies?antitrust laws
16. How does the government regulate businesses?by using government agencies like FCC, FDA, and FTC
17. What is the difference between the public and private sector in the US?public is run by the government uses tax dollars to pay for things like roads and schools, the private sector is owned by citizens like grocery stores, hair salons, and restaurants.
18. What is the 16th amendment?gives congress power to tax income
19. The main job of the Federal Reserve?maintain a stable economy
20. What happens to spending and employment during a recession?decreases
21. What happens to spending and employment during inflation?increases
22. What happens to spending when the government raises taxes?goes down
23. What happens to spending when the government lowers taxesgoes up
24. What happens to interest rates when the Federal Reserve makes banks increase the amount of money they keep in reserve?rates go up, less loans given out
25. Career planning starts with what?self assessment
26. Typically the higher your education the higher your ________?Income
27. What kind of workers do employers seek?strong work ethic

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=The-inability-to-satisfy-all-of-our-wants-at-the-same-time-because-everything-is-limited.-This-requires-us-to-make-choices.

Question 1 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=factors-of-production-that-are-used-to-make-goods-and-services.-Include-natural,-human,-capital,-and-entrepreneurship-(new-ideas)

Question 2 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=selecting-an-item-or-action-from-a-set-of-possible-alternatives

Question 3 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=what-we-give-up-when-we-make-a-choice.

Question 4 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Buyers-determine-through-their-purchases-what-will-be-produced.-A-producer-will-not-make-something-that-no-consumers-are-willing-to-buy.

Question 5 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economy-with-private-and-public-sector

Question 6 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economy-with-only-public-sector,-no-competition

Question 7 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economy-with-only-private-sector,-no-government

Question 8 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=One-owner-takes-all-the-risks-keeps-all-profit

Question 9 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Two-or-more-owners-share-risk-and-profit

Question 10 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Owners-of-a-corporation-are-known-as?

Question 11 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=What-do-banks-do-with-your-money?

Question 12 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=How-do-banks-make-money?

Question 13 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Why-does-the-US-participate-in-Global-Trade?

Question 14 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=How-does-the-government-prevent-monopolies?

Question 15 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=How-does-the-government-regulate-businesses?

Question 16 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=What-is-the-difference-between-the-public-and-private-sector-in-the-US?

Question 17 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=What-is-the-16th-amendment?

Question 18 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=The-main-job-of-the--Federal-Reserve?

Question 19 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=What-happens-to-spending-and-employment-during-a-recession?

Question 20 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=What-happens-to-spending-and-employment-during-inflation?

Question 21 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=What-happens-to-spending-when-the-government-raises-taxes?

Question 22 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=What-happens-to-spending-when-the-government-lowers-taxes

Question 23 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=What-happens-to-interest-rates-when-the-Federal-Reserve-makes-banks-increase-the-amount-of-money-they-keep-in-reserve?

Question 24 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Career-planning-starts-with-what?

Question 25 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Typically-the-higher-your-education-the-higher-your-________?

Question 26 (of 27)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=What-kind-of-workers-do-employers-seek?

Question 27 (of 27)